Glossary
DOCS
Last updated: Aug 15th, 7:10am
- Payor (Sender)
- Sender is an individual or an institution that sends payments to individuals or businesses for goods, services, etc.They are responsible for providing thedetails of payee and the payment. In some cases, the payor can be a customer of the Partner. For the purposes of this document, Partner will integrate with the PayPal Payouts irrespective of the ultimate sender.
- Intermediary Institution
- This institution can be a local bank or a business who is the customer of the Partner acting as a third party facilitating payouts on behalf of the ultimate sender. This institution comes into picture in the 4th party payout model.
- Payee (Recipient)
- The recipient of the payments that the sender makes. This can be an individual or a business. The recipient will be identified by the payor and passed onto to PayPal with a set of instructions including payment and payment method details
- Payouts
- PayPal Payouts enables a sender to send payments to a large number of recipients. These payouts are supported through a batch, API integration and UI.
- PayPal Developer
- PayPal's site for developers containing product documentation, API references and specialized services that help developers during integration.
- PayPal Sandbox
- Test instance of PayPal site and services intended for use during development and testing.
- PayPal Profile
- A PayPal Profile is a construct that is similar to a business account; if a user agreement is required to be agreed to initially, it is ignored and governed by any contract that may be in place between PayPal and the partner. Typically a profile will be used for Payout execution.
- PayPal Payer ID
- The receiver's external PayPal account ID. Also represents a PayPal encrypted account number.
- Unilateral
- Unilateral refers to those that do not own PayPal/Venmo accounts. In Payouts, this comes into picture when the sender wants to send funds to recipient who does not have PayPal or Venmo accounts. Recipients are sent an email to signup for PayPal/venmo.